Granite Real Estate Investment Trust (TSE:GRT.UN) Given Average Rating of “Buy” by Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have received a consensus recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$99.64.

GRT.UN has been the subject of a number of recent analyst reports. National Bank Financial increased their target price on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Royal Bank Of Canada increased their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce increased their target price on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. Canaccord Genuity Group increased their target price on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, TD Securities increased their target price on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a research report on Friday, February 27th.

Granite Real Estate Investment Trust Trading Down 1.0%

Shares of GRT.UN stock opened at C$96.00 on Tuesday. Granite Real Estate Investment Trust has a 52-week low of C$68.02 and a 52-week high of C$98.29. The stock has a market cap of C$5.83 billion, a price-to-earnings ratio of 14.90 and a beta of 1.45. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The firm has a fifty day moving average of C$91.26 and a 200-day moving average of C$86.48.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The company had revenue of C$165.83 million during the quarter. On average, equities research analysts forecast that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were given a dividend of $0.2958 per share. The ex-dividend date was Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 53.53%.

About Granite Real Estate Investment Trust

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.